Apple Inc. executives have long maintained that the don’t talk about forthcoming offerings before they’re ready, and they mentioned that view again Thursday afternoon. “Our M.O., if you will, has always been to do work and then talk about work and not to get out in front of ourselves,” Chief Executive Tim Cook said on the company’s earnings call. Apple
AAPL,
+1.33%
was going to “hold that” standard to the topic of generative AI as well, he added, in response to an analyst’s question on the company’s AI plans.
See more (from August 2023): Apple’s Tim Cook explains why he won’t showboat around AI But there was a bit of a twist this time, as Rosenblatt Securities analyst Barton Crockett noted. Cook went on to say that the company had some “things” going on with generative AI “that we’re incredibly excited about that we’ll be talking about later this year.” While the company “didn’t provide any detail,” it was an “unusual move for this company” to tease an upcoming product event, wrote Crockett, who has a neutral rating and $189 target price on Apple’s stock. Apple has been far quieter about AI than it’s Big Tech peers, and perhaps management realized that investors were looking for a little more. “A muted AI storyline at Apple, versus explosive developments elsewhere, has been a sentiment headwind for the shares,” Crockett wrote. Those shares were looking to be under pressure again Friday, after th …
Article Attribution | Read More at Article Source
AAPL,
+1.33%
was going to “hold that” standard to the topic of generative AI as well, he added, in response to an analyst’s question on the company’s AI plans.
See more (from August 2023): Apple’s Tim Cook explains why he won’t showboat around AI But there was a bit of a twist this time, as Rosenblatt Securities analyst Barton Crockett noted. Cook went on to say that the company had some “things” going on with generative AI “that we’re incredibly excited about that we’ll be talking about later this year.” While the company “didn’t provide any detail,” it was an “unusual move for this company” to tease an upcoming product event, wrote Crockett, who has a neutral rating and $189 target price on Apple’s stock. Apple has been far quieter about AI than it’s Big Tech peers, and perhaps management realized that investors were looking for a little more. “A muted AI storyline at Apple, versus explosive developments elsewhere, has been a sentiment headwind for the shares,” Crockett wrote. Those shares were looking to be under pressure again Friday, after th …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]